Dear GHG Protocol stakeholders,  

This year is set to be a turning point for greenhouse gas accounting and decarbonization, with climate action and its underlying frameworks at a critical crossroads. The bottom line is: emissions must fall faster and at a greater scale.   

For this, business, investors and policymakers must be able to measure emissions accurately, consistently and credibly. Without trusted, comparable data, capital cannot flow as needed, progress cannot be assessed and accountability cannot be assured.    

Globally consistent high quality carbon accounting is therefore not a technical exercise, but a prerequisite for decarbonization.   

Today, organizations are navigating heightened pressure. Regulatory expectations are evolving, investor scrutiny is intensifying, and supply chains are under increasing strain. At the same time, the carbon accounting landscape has overlapping standards and metrics creating duplication that increases costs and slows action, while new risks of fragmentation continue to emerge. 

Despite these challenges, companies continue to commit to decarbonization. But to maintain momentum, they need assurance that the accounting systems they depend on will remain reliable and fit for purpose, providing clear guidance and consistent standards.   

In short: we need a harmonized carbon accounting system that provides clarity, builds trust and unlocks investment. In 2026, our focus is firmly on delivery of this.  

Building on the momentum of COP30   

Late last year, in Belém, GHG Protocol and the International Organization for Standardization (ISO) were jointly mandated by the COP30 Presidency to lead the harmonization of global carbon accounting standards within the Action Agenda.  

This work is now underway. 

Decarbonization is, by definition, a value-chain challenge. While Scope 1 and 2 emissions remain critical operational tools, the largest opportunities for transformation sit in Scope 3, where emissions are shared across suppliers, customers and products.  

Product-level carbon accounting plays an equally important role. Demand for low-carbon products is growing, but it cannot scale without credible, comparable information. Robust product-level data sends a clear market signal, enables differentiated procurement decisions and helps reward lower-carbon choices across entire value chains.  

Through 2026, GHG Protocol standards - in close collaboration with ISO - will continue to evolve in line with market needs while remaining anchored in scientific integrity. 

This includes ongoing work on updated Scope 2 Guidance and the new Land Sector and Removals Standard (LSRS).  

The LSRS is GHG Protocol’s first global framework enabling companies to account for greenhouse gas emissions and carbon removals from agricultural land use and emerging carbon removal technologies. 

Work on Scope 2 also continues to advance (alongside the revision and alignment of the full suite of corporate standards), with our public consultation (which started in October 2025) recently closed. GHG Protocol will now work to review all submissions received. 

In 2026, we will further focus on developing a joint product-level standard with ISO, drawing on both organizations’ deep expertise and established credibility. As a COP30 Action Agenda priority, the work will build on existing and emerging approaches to product carbon accounting to meet user needs and stakeholders will be invited to apply to join the Joint Working Group.  

Collaboration and alignment  

The task ahead is to translate alignment into impact, ensuring carbon accounting enables real-world emissions reductions rather than adding complexity or friction.  

Getting greenhouse gas accounting right and making it useful for all requires collaboration. We welcome new ideas, approaches and perspectives seeking to strengthen the existing framework, and are committed to integrating them through our established best-practice governance processes.   

Alignment does not mean standing still, it means moving forward together, with clarity and purpose.  

As we embark on 2026 — and beyond towards the end of a decisive decade — please let me thank everyone who is tirelessly  working collectively towards a harmonized carbon accounting system. We are committed to working closely with stakeholders across the globe and to sustaining an open, inclusive dialogue throughout the year.  

With warm wishes for a successful year for carbon accounting, 

Geraldine Matchett, Steering Committee Chair